Stablecoins set a historic record of 10 trillion dollars
January 2026 brought a big surprise for the cryptocurrency market. While Bitcoin recorded its worst performance since 2022, stablecoins silently processed 10 trillion dollars in transactions. This colossal volume represents almost a third of all activity in 2024, concentrated in a single month.
In brief
Stablecoins traded for 10 trillion dollars in January 2025, a historic record.
Only Circle's USDC accounted for 8.4 trillion dollars of that volume.
This massive liquidity was deployed despite a 10.17% drop in Bitcoin.
Stablecoin flows reached 10 trillion dollars in January
In January, Bitcoin suffered its largest monthly loss in two years. However, the flows of stablecoins tell a radically different story. USDC, from Circle, took the largest share with $8.4 trillion traded. Tether added $1.8 trillion, while DAI contributed $58.1 billion.
These figures reveal much more than a simple flight to safety. They demonstrate a methodical accumulation of on-chain liquidity, orchestrated by strategically positioned investors. The divergence is striking: while prices fall, the fuel accumulates in the tanks.
The magnitude of the phenomenon becomes evident when comparing these 10 trillion with the annual volume of 33 trillion in 2024. A third of the activity of an entire year was concentrated in a single month. This unprecedented concentration suggests that major players are actively preparing their positions for the upcoming bull market.
